Posts Tagged ‘Eric Hollreiser’

DOJ to Scheinberg on company efforts to buy NJ casino: GL

With Black Friday cases winding up, Mark Scheinberg could make out as the biggest winner in the poker universe.

The chief executive of online gaming giant PokerStars agreed to forfeit $50 million to federal prosecutors to rid his himself of a two-year-old complaint filed by the U.S. government.

In a settlement agreement this week with the Department of Justice, the money being paid by PokerStars CEO Mark Scheinberg is based on allegations contained in the April 15, 2011, complaint filed by federal prosecutors against PokerStars as part of the government’s “Black Friday” crackdown on illegal Internet gaming operations.

“The agreement is not in response to any action that had been brought against Mark and contains no admission of wrongdoing, culpability or guilt on his behalf,” PokerStars spokesman Eric Hollreiser said in an emailed statement.

Last July, PokerStars accepted a $731 million forfeiture to the federal government to end the company’s legal battle with prosecutors.

Three senior officers of PokerStars were charged in April 2011 with bank fraud, money laundering and running an illegal Internet gambling enterprise.

The Justice Department absolved the company of any wrongdoing in accepting Internet wagers from American customers. PokerStars also wasn’t prohibited from entering legal U.S. gaming markets.

PokerStars avoids regulatory tangle by not taking the bait

Caesars Entertainment Corp. reportedly offered to sell the off-Strip Rio and the World Series of Poker to PokerStars, a spokesman for the owner of the online gaming business claimed in an email Tuesday.

The statement by Eric Hollreiser, head of corporate communications for The Rational Group, came a day after attorneys for the American Gaming Association wrote in a legal brief that PokerStars had been a “criminal enterprise for many years.”

But will new law keep them out of Nevada?

Online gaming giant PokerStars folded its hand last summer after a 15-month legal battle with the U.S. Department of Justice.

Since that time the company has been on a heater.

It was the right call for PokerStars to accept a $731 million forfeiture to the federal government and shed a nine-count indictment. The settlement also absolved PokerStars of any wrongdoing in accepting Internet wagers from American customers.

PokerStars, through its Isle of Man-based parent The Rational Group, said in January it was buying a casino in Atlantic City. On Feb. 21, it announced plans to open a live-play poker room at the City of Dreams in Macau, while its online business grew to more than 50 million registered customers through legal Internet gaming markets.